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Commodities Market

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NMDC, NLC to invest over $26 million for setting up R&D facility
21 May 11:55

NMDC and NLC India (formerly Neyveli Lignite Corporation) may invest over $26 million for setting up an R&D facility for developing innovative technologies in iron and steel making. Both the companies are expected to sign a joint R&D agreement with Environmental Clean Technologies (ECT) an Australian company expert in commercialising leading-edge coal and iron-making technologies. NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.

UltraTech Cement wins limestone mining block in Madhya Pradesh
21 May 11:40

UltraTech Cement has won the Deora-Sitapuri-Udipyapura limestone mining block in the State of Madhya Pradesh. The company has participated in electronic auction (e-auction) of limestone mines conducted by the State Government, Madhya Pradesh. A formal communication vesting the said limestone mines in the Company`s favour is expected in due course. The mining block is spread over 344.783 hectare of land and having minable reserve of around 54 million MT. The block is in close proximity to our existing Limestone Mines of the recently commissioned Unit namely Dhar Cement Works.UltraTech Cement is the largest manufacturer of grey cement, Ready Mix Concrete (RMC) and white cement in India. It is also one of the leading cement producers globally. UltraTech as a brand embodies strength, reliability and innovation.

Schneider Electric Infrastructure reports net loss of Rs 22.95 crore in Q4 net profit
21 May 11:40

Schneider Electric Infrastructure reported results for the fourth quarter and year ended March 31, 2018.  The company has reported a net loss of Rs 22.95 crore for the quarter ended March 31, 2018 as compared to net loss of Rs 157.30 crore for the same quarter in the previous year. Total income of the company decreased by 10.79% at Rs 292.11 crore for quarter under review as compared to Rs 327.43 crore for the quarter ended March 31, 2017.For the year ended March 31, 2018, the company has posted a net loss of Rs 64.67 crore as compared to net loss of Rs 175.91 crore for the same period in the previous year. Total income of company decreased by 3.27% at Rs 1358.40 crore for year under review as compared to Rs 1404.37 crore for the year ended March 31, 2017.

Century Textiles to demerge cement division into UltraTech Cement
21 May 11:25

Century Textiles & Industries has received an approval for the Scheme of Arrangement between the company, UltraTech Cement and their respective shareholders and creditors for the demerger of its cement division into UltraTech. Post effectiveness of the Scheme, the equity shares of Ultra Tech Cement shall be issued to the eligible shareholders of the company. The Board of Directors of the company at their meeting held on May 20, 2018, approved the same.  Century Textiles & Industries has a wide portfolio that includes the manufacture of yarn, denim, viscose filament rayon yarn, tyrecords, caustic soda, sulfuric acid, salt, cement and pulp & paper. 

Genomic Valley Biotech appoints CDSL as designated depository
21 May 11:23

Genomic Valley Biotech has appointed Central Depository Services India (CDSL) as Designated Depository for the purpose of Monitoring of Foreign Investment Limits.Genomic Valley Biotech is engaged in conducting research in the field of Biotechnology (Plant & Animal) and also to undertake commercial production of Plant Tissue Cultured Plants of different species to feed the genetically improved plant market nationally as well as internationally.